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Understates the economic cost of a college

Computing the cost of college education like the cost of books, tuition and materials, room as well as board, and spending money: (i) overstates the economic cost of a college education. (ii) accurately measures the economic cost of a college education. (iii) understates the economic cost of a college education. (iv) understates the accounting cost of a college education.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

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